Around 800,000 employees of public sector banks would strike work on June 12 over wage revision and pension issues.
The strike has been called by United Forum of Bank Unions (UFBU).
In this regard, the labour department will hold conciliatory talks with the Indian Banks Association and union representatives on June 5, 2009.
CH Venkatachalam, convenor, UFBU, told Business Standard that on May 11, 2009, IBA had agreed to take an additional wage load of 15 per cent over the existing wage bill, which would cost the public sector banks an additional expenditure of around Rs 4,125 crore. “However the forum has rejected the offer and expects the IBA to improve the offer keeping in mind the increased work load in the branches,” he said.
He said the unions are open to the New Pension System for new recruits, but this cannot be set as a pre-condition for giving existing employees another chance for pension.
IBA while agreeing to conserve the demands insists that henceforth those who join banks will be compulsory governed by the new pension scheme